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and we ask a secondary question, will falling off the fiscal cliff kill this one bright spot in the economy which is housing why can't congress make a deal? it had months to compromise and there's nothiig out there. the dow is down 88. copd makes it hard to breathe, but with advair, i'm b. so now i can be in the scene. advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working together to help improve your lung function all day. advair won't replace fast-acting inhalers for sudden symptoms and shou not be used more than twice a day. people with copd taking advair may have a higher chance of pneumonia. advair may increase yo risk of osteoporosis and some eye problems. tell your doctor if you have a heart condition or high blood pressure before taking advair. if you're still having difficulty breathing, ask your doctor if including advair could help improve your lung function. get your first fu prescription free and saveon refills at advaircopd.com. >> announcer: you
and we ask a secondary question, will falling off the fiscal cliff kill this one bright spot in the economy which is housing why can't congress make a deal? it had months to compromise and there's nothiig out there. the dow is down 88. copd makes it hard to breathe, but with advair, i'm b. so now i can be in the scene. advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator...
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Dec 30, 2012
12/12
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FOXNEWSW
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there are some strategist who is have said that the fiscal cliff won't hit the economy right away. tell actually give lawmakers more time to continue negotiating. but how long can our economy take the uncertainty? >> it is not just uncertainty. we have had that factored in. the reality is that unless the president suspends the increase in payroll taxes that are going to take place, not just social security, but withholding for income tax, while they continue to negotiate, we have gone off the cliff. in the month of january, people will live off their credit cards, but they can only do that so long. come february and march, the higher taxes will require adjustments in the spending habits of folk who is make between $25,000 and $100,000 a year. i would point out that this is no reason to give the president everything he wants and pass that bill that he proposes because if the republicans do that, they lose all their leverage. i have news for most people. if we dont curb our spending, everybody's going to have to pay the higher taxes in the end because things are flying out of ceil. >
there are some strategist who is have said that the fiscal cliff won't hit the economy right away. tell actually give lawmakers more time to continue negotiating. but how long can our economy take the uncertainty? >> it is not just uncertainty. we have had that factored in. the reality is that unless the president suspends the increase in payroll taxes that are going to take place, not just social security, but withholding for income tax, while they continue to negotiate, we have gone off...
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Dec 31, 2012
12/12
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unwilling and unable perhaps, for what will ensue of the fiscal cliff. but the fact is that we are looking at a real prospect that the republicans will be held responsible and must plan be actually hashe effect of shifting some of the responbility to the president read what you thinkre the odds? >> i think he will be held responsible for the economy in 2013 and 2014. you cannot blame george w. bush anymore. they conol the senate. it is their economy for sure. so i think that you're going to sea real problem in 2013 and 2014, but i do think it's obama's economy now. the republicans passed the tax cuts for one group, let's say all the wy through, not the very top group, , i don't know where that negotiation is going to come out, but if they do that, i think that they will be held blameless for the economy. lou: as we wrap up here, i would like to ask you a question this way. because i said last year that i felt strongly at the beginning of the campaign. the democrats were the repuican -- the democrats or the republicans, which party led the discussion to t
unwilling and unable perhaps, for what will ensue of the fiscal cliff. but the fact is that we are looking at a real prospect that the republicans will be held responsible and must plan be actually hashe effect of shifting some of the responbility to the president read what you thinkre the odds? >> i think he will be held responsible for the economy in 2013 and 2014. you cannot blame george w. bush anymore. they conol the senate. it is their economy for sure. so i think that you're going...
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Dec 31, 2012
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later if we go over the fiscal cliff, would a response to an attack like benghazi be even worse? stay with us. >> what president obama says about raising taxes. >> i am just listening to the consensus among people who know the economy best. and what they will say is that if you either increase taxes or significantly lower spending when the economies remain some what fragile it would have a de simulated effect and potentially you see a lot of folks losing business, more folks potentially losing jobs that would be a mistake when the economy has not fully taken off. >>> with me is wall street journal senior economics writer receive moore. has the president changed his mind? >> i love that quote that you have shown. i think it was almost exactly two years ago when the president said that. he said the economy was too fragile for a tax increase. the economy is more fragile now than it was two years ago. if the president were to make an announcement tonight and be a real statesman we are at a deadlock here, we can't reach an agreement, i am going to agree for the good of the country and
later if we go over the fiscal cliff, would a response to an attack like benghazi be even worse? stay with us. >> what president obama says about raising taxes. >> i am just listening to the consensus among people who know the economy best. and what they will say is that if you either increase taxes or significantly lower spending when the economies remain some what fragile it would have a de simulated effect and potentially you see a lot of folks losing business, more folks...
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Dec 27, 2012
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that's also being dragged down about the fiscal cliff. you're seeing consumers pull back on spending and pulling back on how they feel about the economy. they are worried about whether there are going to be r more jobs in the new year. >> they are saying 9.1% unemployment is in the forecast by the end of next year if we don't reach a deal. alison kosik in new york, thank you as always. when you have diabetes... your doctor will say get smart about your weight. i tried weight loss plans... but their shakes aren't always made for people with diabetes. that's why there's glucerna hunger smart shakes. they have carb steady, with carbs that digest slowly to help minimize blood sugar spikes. and they have six grams of sugars. with fifteen grams of protein to help manage hunger... look who's getting smart about her weight. [ male announcer ] glucerna hunger smart. a smart way to help manage hunger and diabetes. >>> welcome back. teachers in utah are going to class today. starting at noon today, 200 teachers will be at a conference near salt lake
that's also being dragged down about the fiscal cliff. you're seeing consumers pull back on spending and pulling back on how they feel about the economy. they are worried about whether there are going to be r more jobs in the new year. >> they are saying 9.1% unemployment is in the forecast by the end of next year if we don't reach a deal. alison kosik in new york, thank you as always. when you have diabetes... your doctor will say get smart about your weight. i tried weight loss plans......
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Dec 31, 2012
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cliff that would take statesmanship from the president and it would do the economy a world of good and i wish that would happen. think about this, this is a major situation. we are almost 24-hours away from the new year. no business, no investor, no worker knows what the capital gains tax will be the personal tax is going to be the social security tax will be alternative minimum tax will be. it is like a third world country we are right to blame both parties in congress because they have to get their act together and get this done. >> i don't just blame both partys in congress i blame the president, too. this is about rolling up your sleeves making phone calls i remember whether it's lyndon johnson or bill clinton or ronald reagan they knew how to work the telephone. that's not happening here. >> it isn't. i think there's blame on both sides. one of the frustrations when i go to republican source on capitol hill they say the president is in the same place negotiation as he was 6 weeks ago that is to say you were right when there was spending problem. we are spending 1.2 trillion more t
cliff that would take statesmanship from the president and it would do the economy a world of good and i wish that would happen. think about this, this is a major situation. we are almost 24-hours away from the new year. no business, no investor, no worker knows what the capital gains tax will be the personal tax is going to be the social security tax will be alternative minimum tax will be. it is like a third world country we are right to blame both parties in congress because they have to get...
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Dec 30, 2012
12/12
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FBC
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this isn't a fiscal cliff, it's a fiscal bun hill, let's slide down it. >> if we slide down, jonas, in the first t week, people are going to open up the paycheck and see less money there. i don't think that people understand that at this point. >> people get used to tax cuts, that's the problem. short-term expiring tax cuts, including e paoll tax cut. you know, it's not the best way to solve a problem, but this cliff is the result of not coming up with deals and they're not going to come up with battery deal if it' negotiated it's not the ideal way to solve it out after deficit. we'd like to gradually raise taxes and cut spending, but this is the best we're going to get. any of the deals they would agree on, probably leave us to the oer guest's int, close t a trillion dollars anyway, and it's the clost shot leaves us with a deficit and closing this gap we can't get out of. and since they lowered taxes they raise spending and two things have to convening and one unfortunate way to do it. >> aren't we in the end, toby, go to get a bad deal? >> from the market standpoint we want to this r
this isn't a fiscal cliff, it's a fiscal bun hill, let's slide down it. >> if we slide down, jonas, in the first t week, people are going to open up the paycheck and see less money there. i don't think that people understand that at this point. >> people get used to tax cuts, that's the problem. short-term expiring tax cuts, including e paoll tax cut. you know, it's not the best way to solve a problem, but this cliff is the result of not coming up with deals and they're not going to...
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Dec 29, 2012
12/12
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coming up next, how the massive gains in the fiscal cliff could impact your 401k and the economy. stay with us the capital one cash rewards card gives you 1% cash back on all purchases, plus a 50% annual bonus. and everyone...but her likes 50% more cash. but i'm upping my game. do you want a candy cane? yes! do you want the puppy? yes! do you want a tricycle? yes! do you want 50 percent more cash? no! ♪ festive. [ male announcer ] the capital one cash rewards card gives you 1% cash back on every purchase plus a 50% annual bonus on the cash you earn. it's the card for people who like more cash. what's in your wallet? gerri: big tax hikes set to t gerri: you make it, they take it. 23.8% is the raise that policymakers will see on capital gains. chris edwards joins me now. he is director for tax policy studies at the cato institute. i would like to show people what we're talking about. he gets confusing for people. we have a current tax rate, 15%. on january 1, the capital gains tax rate will jump to 23.8%. i talked to a lot of my friends and they say that's not a big dumb. what you
coming up next, how the massive gains in the fiscal cliff could impact your 401k and the economy. stay with us the capital one cash rewards card gives you 1% cash back on all purchases, plus a 50% annual bonus. and everyone...but her likes 50% more cash. but i'm upping my game. do you want a candy cane? yes! do you want the puppy? yes! do you want a tricycle? yes! do you want 50 percent more cash? no! ♪ festive. [ male announcer ] the capital one cash rewards card gives you 1% cash back on...
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Dec 28, 2012
12/12
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WRC
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cliff. >>> going over the fiscal cliff could have a huge impact on the local economy. thousands of people can lose their jobs, especially federal employees and government contractors. the defense industry could face billions of dollars in cuts. >> the third largest number of federal employees and probably the largest single number of federal contractors. so that federal nexus is really important to our economy. we need to end the uncertainty. >> economists say it's possible for us to "step over" the cliff. that means lawmakers will reach some kind of a deal in a few weeks after the new year begins. >>> breaking news right now. russia's president, vladimir putin, signed a controversial bill banning americans from adopting russian children. it goes into effect january 1st. there are estimates this could affect more than 1500 adoptions currently under way. the ban is widely viewed as retaliation for recent u.s. law targeting russians who abuse human rights. for a closer look at russia's proposed ban adoption, tune in to the "today" show starting at 7:00 on nbc4. >>> the a
cliff. >>> going over the fiscal cliff could have a huge impact on the local economy. thousands of people can lose their jobs, especially federal employees and government contractors. the defense industry could face billions of dollars in cuts. >> the third largest number of federal employees and probably the largest single number of federal contractors. so that federal nexus is really important to our economy. we need to end the uncertainty. >> economists say it's possible...
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Dec 28, 2012
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the fiscal cliff will affect the u.s. economy. the u.s. economy affects the global economy. "a" equals "b" equals "c," and you see how it happens. there's another one as well. this is what you've got. you've also got the debt ceiling debacle which is nestling and now a cloud is coming in. starting with the fiscal cliff. it is so complicated and confusing, boehner saying the senate must go first. harry reid saying the u.s. is going over the cliff. consumer confidence numbers are down. markets are roiled, and it's not surprising people are worried. but now factor in as tim geithner said that the debt ceiling would be reached by the end of the year. $16.4 trillion. extraordinarily measures. now, what does extraordinary measures mean? suzanne, i'll tell you. it means literally robbing peter to pay paul. shifting the money around. so that you can actually keep paying the bills before you hit the ceiling. all in all, i can't remember an end of a year, suzanne, when we've had two so serious issues affecting the u.s. economy all at the same time. >> it is worrisome. i wonder, richar
the fiscal cliff will affect the u.s. economy. the u.s. economy affects the global economy. "a" equals "b" equals "c," and you see how it happens. there's another one as well. this is what you've got. you've also got the debt ceiling debacle which is nestling and now a cloud is coming in. starting with the fiscal cliff. it is so complicated and confusing, boehner saying the senate must go first. harry reid saying the u.s. is going over the cliff. consumer...
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Dec 30, 2012
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economy is on the verge of taking off. but the fiscal cliff mess could get in the way. how much could eexpect in 2013 with a deal or without a deal. well, i guess i can double check... my watch! [ male announcer ] it pays to double check, with state farm. so, the 5.3-liter v8 silverado can tow up to 9,600 pounds? 315 horsepower. what's that in reindeer-power? [ laughs ] [ pencil scratches ] [ male announcer ] chevy's giving more. now through january 2nd, no monthly payments until spring for qualified buyers. get the silverado for 0% apr financing for 60 months plus $1,000 holiday bonus cash. plus trade up for an additional $1,000 trade-in allowance. >>> welcome back to "your money," we welcome our viewers here in the united states and around the world. breaking news on the fiscal cliff. there's been a significant snag in the negotiations with just fewer than two days remaining to go. about 36 hours remaining on the countdown clock. dana bash is on capitol hill with latest. dana, what have you got? >> this kbifs you a good sense of where things stand. they're at a stands
economy is on the verge of taking off. but the fiscal cliff mess could get in the way. how much could eexpect in 2013 with a deal or without a deal. well, i guess i can double check... my watch! [ male announcer ] it pays to double check, with state farm. so, the 5.3-liter v8 silverado can tow up to 9,600 pounds? 315 horsepower. what's that in reindeer-power? [ laughs ] [ pencil scratches ] [ male announcer ] chevy's giving more. now through january 2nd, no monthly payments until spring for...
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Dec 27, 2012
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. >> coming at the same time is the fiscal cliff impasse. it's a potentially devastating one-two bunch for the u.s. economy. neither the longshore's union or alliance shipping company would allow anyone to speak on camera. but officials knowledgeable of the negotiations say it boils down to one issue. the key sticking point is the payments that the longshore men get for them. they pay royalties for the containers based on their weight but the shipping companies want to freeze those royalty payments for current longshore men and eliminate them for future hires. the longshore men say the royalties are made to make up for automation. but if the shipping companies lockout the longshore men -- >> that would impact more than containers. that would impact all cargos at ports. that would have a much more impactful reaction. $55 billion worth of cargo in an average month this year. candy? >> brian, i have to imagine retail companies and others who want those goods off the ships and in their stores have to be plenty worried. do they have a plan b to m
. >> coming at the same time is the fiscal cliff impasse. it's a potentially devastating one-two bunch for the u.s. economy. neither the longshore's union or alliance shipping company would allow anyone to speak on camera. but officials knowledgeable of the negotiations say it boils down to one issue. the key sticking point is the payments that the longshore men get for them. they pay royalties for the containers based on their weight but the shipping companies want to freeze those...
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Dec 28, 2012
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they avoid the fiscal cliff. we are talking about over $607 billion worth of money taken out of the economy next year. lou: i just want to put up the next cartoon that we have. it matters not which one you select. but this is one of my favorites. the debt commission saying it is very difficult. is very complicated and then cut spending. i don't think you could have cut better on to the essence of the issue. the absurdity creating obstacles to that relution in washington d.c. >> but the problem here is that frankly there is a fine and out of capital that can be used up their divided either in the private sector which creates businesses and jobs and federal revenue or given to the government which is just a bureaucracy ad creates nothing but burearatic management. if you look at the lt gop congress and the expenditures, about two and half trillion dollars and now the president's proposals are about 4 trillion in spending with deficits and increased. it is the economy. lou: it truly is. and i want to also if we may
they avoid the fiscal cliff. we are talking about over $607 billion worth of money taken out of the economy next year. lou: i just want to put up the next cartoon that we have. it matters not which one you select. but this is one of my favorites. the debt commission saying it is very difficult. is very complicated and then cut spending. i don't think you could have cut better on to the essence of the issue. the absurdity creating obstacles to that relution in washington d.c. >> but the...
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Dec 28, 2012
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you know that when we think about going off the fiscal cliff dividend taxes could triple. and that would have a significantly negative impact on our economy's ability to sustain growth. and think about, you know, this idea, this false idea, frankly, that it won't impact anybody that makes less than 250,000 or whatever the cap is you want. >> right. >> our average age of people that own dividend-paying stocks is about 65 years old. their average income is between 70 to $75,000. yeah, they're not subject to the $250,000 but in fact, if you reduce the after tax yield of these kinds of investments that people select because of their low risk and they use the dividends to supplement their retirement income, if you reduce the after tax yield, stock values drop. we have already seen that. david: because of all this breaking news i want to bring you back and i really want to focus you a little more specifically and dividend tax is something you're hot about but i want to talk to you about whether you're getting squeezed. i'm looking at 300 to $400 billion gap the president will ha
you know that when we think about going off the fiscal cliff dividend taxes could triple. and that would have a significantly negative impact on our economy's ability to sustain growth. and think about, you know, this idea, this false idea, frankly, that it won't impact anybody that makes less than 250,000 or whatever the cap is you want. >> right. >> our average age of people that own dividend-paying stocks is about 65 years old. their average income is between 70 to $75,000. yeah,...
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Dec 27, 2012
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cliff. what do you say? >> of course they blame republicans. that is what people in washington bureau. let's be realistic about this. the president owns the economy at the end of the day, whether he wants to admit it or not. this is his job. i was there in 2003 in the second round of so-called bush tax policies came to the house. the house house wanted $550 billion in cuts. all they could get was $250 billion. it was a compromise. george bush came down and met with our conference and said, you guys thought the good fight, this is what i mean, need, let's go and take what we can get, with a $250 billion and the problem is solved. gerri: i don't see that exactly. [talking over each other] [talking over each other] >> can you imagine? can you imagine lyndon johnson sitting on the sidelines while something like this was going on? gerri: i cannot imagine lyndon johnson going anywhere but washington and sitting there, quite frankly. something that is new out this afternoon, senior administration o
cliff. what do you say? >> of course they blame republicans. that is what people in washington bureau. let's be realistic about this. the president owns the economy at the end of the day, whether he wants to admit it or not. this is his job. i was there in 2003 in the second round of so-called bush tax policies came to the house. the house house wanted $550 billion in cuts. all they could get was $250 billion. it was a compromise. george bush came down and met with our conference and...
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Dec 28, 2012
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cliff. >> the hour for immediate action is here. it is now. and the american people are not going to have any patience for a politically, self-inflicted wound to our economy. >> reporter: there are signs of progress. mitch mcconnell and harry reid have agreed to spend the next 24 hours to work a small plan to keep some taxes from going up. after the meeting, house democrat leader nancy pelosi told us she'sa at least a little encouraged. >> it was constructive. as i say, candor is constructive, and i think it moved us forward, but we'll see. >> reporter: it was the first meeting with the president and all the congressional leaders in six weeks. it follows an impasse that has shaken wall street, the dow down more than 400 points since talks stalled last week. and on main street, business owners like drew greenblatt, who owns a wire basket manufacturing company in baltimore, say the coming fiscal cliff is already causing pain because they just don't know what will happen to their taxes. >> right now we're doing our budget. we're decidi
cliff. >> the hour for immediate action is here. it is now. and the american people are not going to have any patience for a politically, self-inflicted wound to our economy. >> reporter: there are signs of progress. mitch mcconnell and harry reid have agreed to spend the next 24 hours to work a small plan to keep some taxes from going up. after the meeting, house democrat leader nancy pelosi told us she'sa at least a little encouraged. >> it was constructive. as i say, candor...
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Dec 28, 2012
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economy will go off the so- called "fiscal cliff." that's when automatic spending increases and cuts would take effect. reaching a deal won't be easy because both sides are involved in a high stakes political blame game. >> we are here in washington working while the members of the house of representatives are out watching movies and watching the kids play soccer and basketball and doing all kinds of things. they should be here. >> i told the president we would be happy to look at wah he proposes but the truth is we are coming up against a hard deadline and as i said this is a conversation we should have had months ago. >> reporter: democrats want to extend the bush-era tax cuts to everyone except those americans making $250,000 or more a year. many republicans are against any tax increases. most americans just want something to be done. >> people are just tired of partisanship and they want everyone to come together. >> reporter: if lawmakers don't reach a deal by january 1, many economists are concerned it could eventually lead to a
economy will go off the so- called "fiscal cliff." that's when automatic spending increases and cuts would take effect. reaching a deal won't be easy because both sides are involved in a high stakes political blame game. >> we are here in washington working while the members of the house of representatives are out watching movies and watching the kids play soccer and basketball and doing all kinds of things. they should be here. >> i told the president we would be happy to...
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Dec 29, 2012
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but the other thing about the fiscal cliff, you do not want to be blamed for going over it. it is going to be bad for the economy, it's bad for the country. what speaker boehner has done is create a situation in which we are going to go over the fiscal cliff. but the people who want higher taxes, the democrats they will not be ready for it. it was john boehner that walked away the negotiations to try plan-b and then it was mr. boehner who failed to pass the plan. and then it was mr. boehner who said it was somebody else's problem. what he has done is a debacle for the republicans. the white house has been sitting back and letting it happen. you can call it deal and jam. >> i am optimistic that we can reach an greept that can pass both houses in time. senators reed and mcconnell are working on such an agreement as we speak. but, if an agreement is not reached in time, between reed and mcconnell, i will urge senator reed to bring to the floor a basic package for an up or down vote, one that protects the middle class from an income tax hike and extends the vital life line of un
but the other thing about the fiscal cliff, you do not want to be blamed for going over it. it is going to be bad for the economy, it's bad for the country. what speaker boehner has done is create a situation in which we are going to go over the fiscal cliff. but the people who want higher taxes, the democrats they will not be ready for it. it was john boehner that walked away the negotiations to try plan-b and then it was mr. boehner who failed to pass the plan. and then it was mr. boehner who...
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Dec 24, 2012
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with the lingering worries tonight after weak economy and the looming fiscal cliff, many consumers are left saying bah humbug. here is brenda buttner, senior business correspondent and anchor of bulls and bears. >> harris, they are filling up the stores, but not emptying out their wallets. after a strong black friday, this holiday shopping season may not have a strong finish. consumer confidence is at a five month low and shopper track, cut its forecast for holiday spending down to 2.5% increase rf the expectations of 3.3% rise. what does it mean? remember, the holiday season is huge for retailers. it can make up about a third of annual sales and half of profit for many chains, this final stretch is especially key as many buyers wait to get the deepest discounts. retailers are cutting. big discounts hit this final shopping weekend. better late than never perhaps for those looking for deals, but profits could suffer. almost anytime you save 50% off, retailers may be losing money. looking for a grinch in all this? d.c. gets the blame. the increasing chance we may fall off the fiscal clif
with the lingering worries tonight after weak economy and the looming fiscal cliff, many consumers are left saying bah humbug. here is brenda buttner, senior business correspondent and anchor of bulls and bears. >> harris, they are filling up the stores, but not emptying out their wallets. after a strong black friday, this holiday shopping season may not have a strong finish. consumer confidence is at a five month low and shopper track, cut its forecast for holiday spending down to 2.5%...
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Dec 31, 2012
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if we can get that done, that takes a big bite out of the fiscal cliff. it avoids the worst outcomes. and we're then going to have some tough negotiations in terms of how we continue to reduce the deficit, grow the economy, create jobs. >> if this fight comes back. i want to ask you specifically about entitlements, medicare and social security. are you prepared in the first year of your second term to significantly reform those two programs, to go beyond the cuts you've suggested to benefits in medicare that your own debt commission suggested you have to do if you are really going to shore up medicare at least? are you prepared to do that in your first year of the second term? >> what i've said is i am prepared to do everything i can to make sure that medicare and social security are there, not just for this generation but for future generations. >> you've got to talk tough to seniors, don't you? >> i already have. david, as you know, one of the proposals we made was something called chained cpi, which sounds technical, but basically is an adjustment in t
if we can get that done, that takes a big bite out of the fiscal cliff. it avoids the worst outcomes. and we're then going to have some tough negotiations in terms of how we continue to reduce the deficit, grow the economy, create jobs. >> if this fight comes back. i want to ask you specifically about entitlements, medicare and social security. are you prepared in the first year of your second term to significantly reform those two programs, to go beyond the cuts you've suggested to...
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Dec 27, 2012
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>> forget the fiscal cliff. how about a container cliff and what it m do to the economy. time's running short and a standoff between long shoreman union workers and companies could cripple the nation. unless they reach a dea they plan to strike this weekend. we reached out but haven't heard back yet. steve moore is here with us. if th strike happens, some estimates say $1 billion per day hit to the economy. >> yeah, the's no question. if you -- you used the right word, cripple the economy. the ports in this country are the backbone of our trade, both export and imports and i've read estimates of $100 billion or more comes in and out. so it cook devastating, and reverberate throughout the economy. retailers, whesalers. food distributors, everybody would be affected by the strike if it goes forward. >> exactly what do the unions want and what is management willing to do? how far apart arehe two groups? >> it's inresting. they're not really -- normally in a wage dispute with the union,ettes it's about wages and benefits but in this case it's not. what the unions are objectin
>> forget the fiscal cliff. how about a container cliff and what it m do to the economy. time's running short and a standoff between long shoreman union workers and companies could cripple the nation. unless they reach a dea they plan to strike this weekend. we reached out but haven't heard back yet. steve moore is here with us. if th strike happens, some estimates say $1 billion per day hit to the economy. >> yeah, the's no question. if you -- you used the right word, cripple the...
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whatever deal we get out of all this fiscal cliff madness at the end of the day, is going to be on their terms because of the sequestration they forced from the debt ceiling threat which was irresponsible. the idea in the times today made you think these guys are out of the picture, they have some scuffling at the top. >> what do you make of the article itself? coming at it? do you think they are trying to gin up some kind of -- that is the people who are more interested in seeing this article put forth, they're trying to say the tea party is declining when it's not? >> i think it reflects that shift and the fact that you got more people and more money going into this thing. that's that grass tops part you spoke to. this happens in washington a lot. everyone wants their group to sound as powerful as possible. you wrote the book on hip-hop, with your blessing, i'd like to quote some lines tonight. i'm reminded the blessing's not all the way there. for the audience at home, i'm getting a skeptical look. would you rather be underpaid or overrated? must people would be overpaid. in washingto
whatever deal we get out of all this fiscal cliff madness at the end of the day, is going to be on their terms because of the sequestration they forced from the debt ceiling threat which was irresponsible. the idea in the times today made you think these guys are out of the picture, they have some scuffling at the top. >> what do you make of the article itself? coming at it? do you think they are trying to gin up some kind of -- that is the people who are more interested in seeing this...
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cliff. now, just five days until everyone's taxes go up in this country, how much for the average american family? here's our chief white house correspondent jon karl tonight. >> reporter: president obama cut short his hawaii vacation, running back to washington, where storm clouds, real storm clouds, are gathering over the capitol. instead of deal making, it's name calling. the top democrat in the senate, accusing the republican speaker of the house of running a dictatorship. they say they haven't given up, but it sure sounds that way. >> i don't know time wise how it can happen now. >> here we are, once again, at the end of the year, staring at a crisis we should have dealt with literally months ago. >> reporter: vice president biden made a rare appearance in the senate, not to negotiate -- >> i do. >> congratulations, senator. >> reporter: but to swear in a new democratic senator from hawaii. a vote the white house will need if the senate ever gets around to voting on a plan to avert the
cliff. now, just five days until everyone's taxes go up in this country, how much for the average american family? here's our chief white house correspondent jon karl tonight. >> reporter: president obama cut short his hawaii vacation, running back to washington, where storm clouds, real storm clouds, are gathering over the capitol. instead of deal making, it's name calling. the top democrat in the senate, accusing the republican speaker of the house of running a dictatorship. they say...
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and today for the first time, utterly dismissed because of the fiscal cliff. if you will, the boehner back flip on plan b. >> yes. end? lou: what do you think will happen from here? >> we tied to this cliff now. that is all anybody talks about. they are playing it to the 11th hour and 59th minute. the smart guys that i know tell me that it will probably not get done, but then it will be done in the first first second week maximum in jauary. the stock market showed you, just give you a little bit of a taste today about how the stock market feels about it not getting done. lou: as i listen to the president today, and we are told that he will be taking off for hawaii. i mean, his take off was -- i'm sorry? there is the plane. and that, of course, picture being worth 10,000 words. i was about to say, we will wave to the president, which is another obvious given to the fact that air force one is waiting to win its way westward to hawaii. this is not a president to is overwhelmed by his failure to lead on this issue. it doesn't like it is now his issue, does this? i
and today for the first time, utterly dismissed because of the fiscal cliff. if you will, the boehner back flip on plan b. >> yes. end? lou: what do you think will happen from here? >> we tied to this cliff now. that is all anybody talks about. they are playing it to the 11th hour and 59th minute. the smart guys that i know tell me that it will probably not get done, but then it will be done in the first first second week maximum in jauary. the stock market showed you, just give you...
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he feels that a deal on averting this fiscal cliff might get done. here's the president. >> i'm modestly optimistic that an agreement can be achieved. money is going to get 100% of what they want. let's make sure that middle class families and the american economy and, in fact, the world economy aren't adversely impacted because people can't do their jobs. i think you could qualify it. he said optimistic and came back later in that speech and said mod testily optimistic. >> juliet: doesn't that suggest that he is backtracking? >> clayton: don't know what's going to happen at the end of the day. in this meeting as dave was talking about back and forth the ball is in the senate's court right now mitch mcconnell said we will take it we don't want to go back to the house where that was a mess over in the house. we will take it. we will will try. this the president said you try this if you can't get anything done i want a straight up or down vote on those making over $250,000 a year and some of the unemployment benefits for 2 million individuals will stil
he feels that a deal on averting this fiscal cliff might get done. here's the president. >> i'm modestly optimistic that an agreement can be achieved. money is going to get 100% of what they want. let's make sure that middle class families and the american economy and, in fact, the world economy aren't adversely impacted because people can't do their jobs. i think you could qualify it. he said optimistic and came back later in that speech and said mod testily optimistic. >> juliet:...
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Dec 26, 2012
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you are right that the fiscal cliff is disadvantageous to the economy in terms of jobs and taxes but if we know we are going over the cliff that provides policy certainty that allows corporations to act within the certainty of the new tax regime that comes out of it and it will help the deficit. i am speaking anathema but that is certainty. shibani: 70 -- dennis: something wins and the economy could make stocks right at some point. thank you very much, jim laventhol. here's one retail segment that did great. gun, rifle and ammunition sales are skyrocketing following the backlash against guns at the connecticut elementary school. the world's largest supplier of firearms says it sold 3.5 years worth of ammunition clips for automatic weapons in just three days and a gun shop owner north carolina says gun sales for christmas or four times better than last year. many customers blame talk of stricter gun control for driving the rush. unintended consequences. let's look at gun stocks. the images that so smith and wesson, they are down. the middle of their sales are probably up. shibani: one
you are right that the fiscal cliff is disadvantageous to the economy in terms of jobs and taxes but if we know we are going over the cliff that provides policy certainty that allows corporations to act within the certainty of the new tax regime that comes out of it and it will help the deficit. i am speaking anathema but that is certainty. shibani: 70 -- dennis: something wins and the economy could make stocks right at some point. thank you very much, jim laventhol. here's one retail segment...
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remember, the economy was going off a cliff. a real cliff. and not a symbolic fiscal cliff. i mean, but it was a real economic cliff, over which we had no control at all. he took the reins and prevented another great depression. we had a very, very deep recession and we are still in the gravitational pull of that deep recession, but a lot of conservative republicans, many of whom had been elected in 2010, they looked at what president obama had done with regard to the stimulus package, and everything else, and they said, this is simply too much government. we hate government, we don't want government. and we were elected on a very ideological platform of shrinking the federal government. of kind of an anti-government obsession, of the sort that we haven't seen in this country in decades. >> all right. well, we're looking for the isaac newton to free us from that gravitational pull of these republican ideologues. robert reich, thank you so very much. and our sincere apologies to amanda turco of "the huffington post," who was unable to join us due to technical difficulties bey
remember, the economy was going off a cliff. a real cliff. and not a symbolic fiscal cliff. i mean, but it was a real economic cliff, over which we had no control at all. he took the reins and prevented another great depression. we had a very, very deep recession and we are still in the gravitational pull of that deep recession, but a lot of conservative republicans, many of whom had been elected in 2010, they looked at what president obama had done with regard to the stimulus package, and...
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>> the fiscal cliff would happen like in 2014. >> so bush tax cuts for the top 2%? >> keep those. the whole shabang. what we need is more money to go to the economy to keep things afloat. and this is not the time to figure out how we're going to reduce that. it doesn't -- it's not quite that important right now. >> picking up on that point, you're very closely following that stuff in washington, it looks like, my interpretation of this and tell me if i'm wrong, the payroll tax is basically gone already? >> i totally agree. it's not even being mentioned and the reason is, obama's last offer -- we actually had obama and boehner still negotiating in good faith, passing deals back and forth and this was included. he dropped his demand for having an extension of the payroll tax holiday in which the payroll tax was dropped from 6.2 to 2.4%. he dropped it. the stimulus offer shrank from 425 billion to 175 billion. so it's something he's already given up. you had tim geithner saying earlier in the year that, you know, this a payroll tax holiday is just that. it's a holiday. they're not su
>> the fiscal cliff would happen like in 2014. >> so bush tax cuts for the top 2%? >> keep those. the whole shabang. what we need is more money to go to the economy to keep things afloat. and this is not the time to figure out how we're going to reduce that. it doesn't -- it's not quite that important right now. >> picking up on that point, you're very closely following that stuff in washington, it looks like, my interpretation of this and tell me if i'm wrong, the...
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cliff. >> if in fact we do go over the fiscal cliff it means the economy is going to go down pretty sharply. [ buzzing ] bye dad. drive safe. k. love you. [ chirping, buzzing continues ] [ horn honks ] [ buzzing continues ] [ male announcer ] the sprint drive first app. blocks and replies to texts while you drive. we can live without the &. visit sprint.com/drive. . gregg: you expect accrued of lines when you're shopping. how about sharks? look at those cameras rolling. a giant aquarium bursts, e phroedz insid explodes inside a mall in sang high china it sends glass, water, everywhere, including sharks. fortunately the sharks weren't terribly hungry at the moment and they didn't get very far. patti ann: george h.w. bush is in intensive care at a houston hospital battling a subject born fever. the former president has been sick for a few weeks now. on november 7th he was admitted to methodist hospital in houston what cough. he was later released only to be readmitted on november 23rd. by december 13th a hospital spokesman said the former president was improving and should be able to
cliff. >> if in fact we do go over the fiscal cliff it means the economy is going to go down pretty sharply. [ buzzing ] bye dad. drive safe. k. love you. [ chirping, buzzing continues ] [ horn honks ] [ buzzing continues ] [ male announcer ] the sprint drive first app. blocks and replies to texts while you drive. we can live without the &. visit sprint.com/drive. . gregg: you expect accrued of lines when you're shopping. how about sharks? look at those cameras rolling. a giant...
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despite all those worries about the fiscal cliff and maybe slower growth in the u.s. economy, the stock market has had a great year. too bad you missed out. the smart money's been in the market. the rest of us have been worried about the fiscal cliff. >> number eight, facebook's ipo. hundreds of millions of people like facebook but investors did not on its first day as a public company. trading glitches at the nasdaq and questions about the company's ability to make money on mobile users pummeled the stock which has yet to climb its way back to its ipo price. >> number seven, mother meyer, the new ceo of yahoo!. 37 years old. looks like a mother's touch is just exactly what yahoo! needed. >> number six, mother nature. an intense drought in the midwest that scorched the soy and corn crop sending prices sky high. who could forget superstorm sandy. neighborhoods swept away, millions without power and damages as high as $50 billion, raising lots of questions about u.s. infrastructure and whether we should be spending some money to fix it. >> number five, china. is china s
despite all those worries about the fiscal cliff and maybe slower growth in the u.s. economy, the stock market has had a great year. too bad you missed out. the smart money's been in the market. the rest of us have been worried about the fiscal cliff. >> number eight, facebook's ipo. hundreds of millions of people like facebook but investors did not on its first day as a public company. trading glitches at the nasdaq and questions about the company's ability to make money on mobile users...
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gregg: the fiscal cliff is not the only threat facing the u.s. economy right now. shipments of all kinds could actually be stuck on cargo ships if a longshoreman strike goes ahead as planned. the stakes for the recovery coming up. patti ann: high noon in those fiscal cliff negotiations. >> nothing have move forward in regards to our budget crisis unless speaker boehner and mitch mcconnell will go forward with our plan. speaker boehner is willing to negotiate, we have not heard a word from mitch mcconnell, and nothing is hang. patti ann: chris vanhollen joins us next. pwhrafp [ woman ] ring. ring. progresso. i just finished a bowl of your new light chicken pot pie soup and it's so rich and creamy... is it really 100 calories? let me put you on webcan... ...lean roasted chicken... and a creamy broth mmm i can still see you. [ male announcer ] progresso. you gotta taste this soup. . patti ann: fox news alert, potentially good news for the nation's housing market. pending home sales, which measure homes that are in contract and about to be sold rose 1.7% in november to
gregg: the fiscal cliff is not the only threat facing the u.s. economy right now. shipments of all kinds could actually be stuck on cargo ships if a longshoreman strike goes ahead as planned. the stakes for the recovery coming up. patti ann: high noon in those fiscal cliff negotiations. >> nothing have move forward in regards to our budget crisis unless speaker boehner and mitch mcconnell will go forward with our plan. speaker boehner is willing to negotiate, we have not heard a word from...
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. >> that's discussed as part of a fiscal cliff deal, but many believe that will end up hurting the economy, giving a disincentive to invest money? was that just focused on the real wealthy? >> i hear that argument a lot. number one is, i'm really tired of our tax policy decisions. you know, everything, being made by what the market's going to do in the next quarter. this is about aberration of the tax code and grossly unfair. say they raise top tax rate to 39.6% for those making more than $500,000. that means a lot of small businesses will are paying that nearly 40% marginal tax rate where you have billionaire private equity funds paying 15, 20, even 24, depending where they put it. it's not an issue of penalizing investment income. it's an issue of penalizing labor, and those who make their income through wages. both are legitimate and both should be taxed at the same rate. so i do -- again, fundamental tax reform could solve this problem, but at least raising the capital gains rate would help address this anomaly and susan collins and claire mccaskill have a proposal to try to give small
. >> that's discussed as part of a fiscal cliff deal, but many believe that will end up hurting the economy, giving a disincentive to invest money? was that just focused on the real wealthy? >> i hear that argument a lot. number one is, i'm really tired of our tax policy decisions. you know, everything, being made by what the market's going to do in the next quarter. this is about aberration of the tax code and grossly unfair. say they raise top tax rate to 39.6% for those making...
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despite all those worries about the fiscal cliff and maybe slower growth in the u.s. economy, the stock market has had a great year. too bad you missed out. smart money's been on the market. the rest of us have been worried about the fiscal cliff. >> number eight, facebook's ipo. hundreds of millions of people like facebook, but investors did not on its first day as a public company. trading glitches at the nasdaq and questions about the company's ability to make money on mobile users pummeled the stock, which has yet to climb its way back to its ipo price. >> number seven, mother meyer. the new ceo of yahoo! who announced she was just going to take a two-week maternity leave as she tried to turn this company around. 37 years old, it looks like a mother's touch is what yahoo! needed. >> mother nature. an intense drought in the midwest that scorched the corn and soy crop, sending prices sky high. >> who can forget super storm sandy? neighborhoods along the northeast swept away, millions without power and damages as high as 50 billion dollars raising lots of questions a
despite all those worries about the fiscal cliff and maybe slower growth in the u.s. economy, the stock market has had a great year. too bad you missed out. smart money's been on the market. the rest of us have been worried about the fiscal cliff. >> number eight, facebook's ipo. hundreds of millions of people like facebook, but investors did not on its first day as a public company. trading glitches at the nasdaq and questions about the company's ability to make money on mobile users...
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back to you. >> shannon: we asked you if going over the fiscal cliff might be a good thing. and boy, did you respond. your answers, next. with the spark cash card from capital one, sven gets great rewards for his small business! how does this thing work? oh, i like it! [ garth ] sven's small business earns 2% cash back on every purche, everday! woo-hoo!!! so that's ten security gators, right? put them on my spark card! why settle for less? testing hot tar... great sinesses deserve great rewards! [ male announcer ] the spark business card from capital one. choose unlimited rewards with 2% cash back or double miles on every purchase, every day! what's in your wallet? here's your invoice. >>> well, they are a mess. a collective mess. my dear friend dr. art laper thinks we are in for rough times. my assessment of the deal. two boys in georgia decided to go into the watermelon business and bought a truck and a load of watermelons for 50 cents apiece and came back to atlanta and sold them and got to counting their money and one of them said dear lord we have to get a better truck.
back to you. >> shannon: we asked you if going over the fiscal cliff might be a good thing. and boy, did you respond. your answers, next. with the spark cash card from capital one, sven gets great rewards for his small business! how does this thing work? oh, i like it! [ garth ] sven's small business earns 2% cash back on every purche, everday! woo-hoo!!! so that's ten security gators, right? put them on my spark card! why settle for less? testing hot tar... great sinesses deserve great...
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greg: as lawmakers struggled with the fiscal cliff, treasury secretary timothy geithner is facing an equally harrowing deadline is the u.s. economy approaches its borrowing limit of $16.4 trillion. he says that he is being forced to use extraordinary measures. just to try try to keep things afloat for another few months. do you ever feel like groundhog day? paul harrington is a managing partner of harrington financial llc. i do feel like bill murray in his movie "groundhog day", the movie. it seems to be happening over and over again, doesn't it? [laughter] reporter: this narrative is tiring and frustrating. we have been talking about this every year. we do have a $16.4 trillion debt ceiling. i want people to realize that there are vibrational effects associated with going over or trying to extend the debt ceiling. one example is the credit rating of the united states. we already saw a downgrade their with our respective credit rating in the united states. if we are going to go through the debt ceiling once again, and i suspect that we will revisit having another downgrade to her cre
greg: as lawmakers struggled with the fiscal cliff, treasury secretary timothy geithner is facing an equally harrowing deadline is the u.s. economy approaches its borrowing limit of $16.4 trillion. he says that he is being forced to use extraordinary measures. just to try try to keep things afloat for another few months. do you ever feel like groundhog day? paul harrington is a managing partner of harrington financial llc. i do feel like bill murray in his movie "groundhog day", the...
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we're going hit the fiscal cliff. we'll hit the debt ceiling and businesses in our economy will not be able to recover because both sides are very polarized. >> we talked about spending cuts and we don't seem like we are now. this is a pretty small deal and that's not a consideration and we have to get past next tuesday. >> the biggest danger here is the debt ceiling is not included and that would be a great thing for the country to not have another deadline pending with more doomsday scenarios. the debt ceiling is almost guaranteed not to be in this deal and that's something that i thought would be initially and something president obama pushed for. now we have the same scenario in february again and this is very exhausting to americans to see this deadline pressure in washington. >> blake, do this quickly for me, here. we are kicking the can down the road. just how far down the road is it being kicked in this deal? >> what perry said is exactly right and another reason why progressives should be concerned which is w
we're going hit the fiscal cliff. we'll hit the debt ceiling and businesses in our economy will not be able to recover because both sides are very polarized. >> we talked about spending cuts and we don't seem like we are now. this is a pretty small deal and that's not a consideration and we have to get past next tuesday. >> the biggest danger here is the debt ceiling is not included and that would be a great thing for the country to not have another deadline pending with more...
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. >> number one is the fiscal cliff. lawmakers saw it coming and didn't bother to pay any attention to it until after the election. had they put politics aside and dealt with it earlier, who knows how strong the u.s. economy would be right now. >> and make sure you join me for the biggest stories of the year in crime, politic, money and the most scandalous stories. the top ten of 2012, 8:00 eastern. a teen battling a terminal illness uses lyrics instead of letters to say goodbyes. >> it's kind of me always being there for him. like if they keep singing that song throughout their life, it will be worth it. >> this teen's final wish, next. s that will make it drop over, and over again. ♪ from jammin' jerk chicken, to creamy gouda bisque. see what's new from campbell's. it's amazing what soup can do. with less chronic osteoarthritis pain. imagine living your life with less chronic low back pain. imagine you, with less pain. cymbalta can help. cymbalta is fda-approved to manage chronic musculoskeletal pain. one non-narcoti
. >> number one is the fiscal cliff. lawmakers saw it coming and didn't bother to pay any attention to it until after the election. had they put politics aside and dealt with it earlier, who knows how strong the u.s. economy would be right now. >> and make sure you join me for the biggest stories of the year in crime, politic, money and the most scandalous stories. the top ten of 2012, 8:00 eastern. a teen battling a terminal illness uses lyrics instead of letters to say goodbyes....
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economy falls off the fiscal cliff, it will have an impact around the world. haus sirken is a partner and fellow of the overseas markets and joins us from chicago. thanks for being with us on this weekend. the idea -- >> great being with you, martin. >> thank you. the idea of the world being affected by the fiscal cliff problem here in america wasn't really lost on the president after his meeting with congressional immediate leaders yesterday. let's listen. >> i'm modestly optimistic that an agreement can be achieved. nobody is going to get 100% what have they want. but let's make sure that middle class families and the american economy and, in fact, the world economy, aren't adversely impacted because people can't do their jobs. >> so that begs the question, hall. how are other countries preparing for this really precarious situation and one in which they really have no control. >> well, martin, there's not much they can do to prepare. what will happen, if the fiscal cliff turns out to take place, is that we'll start to see the economy beginning to slide. the
economy falls off the fiscal cliff, it will have an impact around the world. haus sirken is a partner and fellow of the overseas markets and joins us from chicago. thanks for being with us on this weekend. the idea -- >> great being with you, martin. >> thank you. the idea of the world being affected by the fiscal cliff problem here in america wasn't really lost on the president after his meeting with congressional immediate leaders yesterday. let's listen. >> i'm modestly...
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cliff? >>> and holy cow. $8 for a gallon of milk? why that utterly ridiculous price could be a very real possibility today, friday, december 28th, 2012. >>> and good morning, everyone. welcome to "today" on a friday morning. i'm savannah guthrie. >> i'm willie geist in this morning. she is full of milk puns this morning. holy cow. utterly. >> what are you, lactose intolerant? >> the trifecta. >> we'll move on to the big story, which is the weather. we're bracing for another big storm before the last one is done. >> it's expected to bring a new round of travel headaches during a holiday travel weekend. how will it impact you in more on that ahead. >>> also, retired general norman schwarzkopf has died at the age of 78. he's being remembered as one of the greatest military figures in u.s. history. more on his remarkable life coming up. >>> also ahead, it happened again. a man shoved to his death in front of a new york city subway train. this time, the suspect is a woman. we will have the detail
cliff? >>> and holy cow. $8 for a gallon of milk? why that utterly ridiculous price could be a very real possibility today, friday, december 28th, 2012. >>> and good morning, everyone. welcome to "today" on a friday morning. i'm savannah guthrie. >> i'm willie geist in this morning. she is full of milk puns this morning. holy cow. utterly. >> what are you, lactose intolerant? >> the trifecta. >> we'll move on to the big story, which is the...
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not just the fiscal cliff with the potential threat to the economy, thousands of dockworkers from maine to texas could go on strike within days if their union can't reach a deal with major shipping companies. these are the workers who move goods from the nation's ports to the stores. >> everybody from your mom and pop retailer to your farmer, to the trucking company who has go in and pick up the containers at the ports. this will be felt not just at the local economy, but nationwide for everybody else who relies on these ports. >> one port official says east and gulf coast ports handle about $55 billion worth of cargo a month so a strike could have a major effect on the retail business. >>> land lines not going the way of the vcr just yet. older americans are slow to get rid of land lines and go mobile. the centers for disease control asked 20,000 households about trends throughout the year. the study found about 52% use cell phones for all of their cal calls, that's less than 2% increase from previous years. the older generation is slower to make the switch. >>> patrick democracy might
not just the fiscal cliff with the potential threat to the economy, thousands of dockworkers from maine to texas could go on strike within days if their union can't reach a deal with major shipping companies. these are the workers who move goods from the nation's ports to the stores. >> everybody from your mom and pop retailer to your farmer, to the trucking company who has go in and pick up the containers at the ports. this will be felt not just at the local economy, but nationwide for...
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economy caught right in the middle. we can only, of course, be talking about the fiscal cliff. our political panel is going to weigh in on the chances for a deal. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. >>> the pressure is on as harry reid and mitch mcconnell race against the clock to find a fix to the fiscal cliff. joining me are cnn contributor and democratic strategist maria cardona and republican strategist ron bonjin. good morning to you. >> good morning. >> good morning. >> ron, i'll start with you. reid and mcconnell, they really are the focus in the senate. in the house, it's speaker john boehner. i've got to ask you, is his job on the line if republicans balk at any deal that's reached? >> no, not at all. speaker boehner is extremely strong. his conferences support him and knows that he's bee
economy caught right in the middle. we can only, of course, be talking about the fiscal cliff. our political panel is going to weigh in on the chances for a deal. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. >>>...